Shift4 Payments price target raised to $112 from $100 at BofA

BofA analyst Jason Kupferberg raised the firm’s price target on Shift4 Payments (FOUR) to $112 from $100 and keeps a Buy rating on the shares. The firm notes Shift4 unexpectedly missed and guided down on volumes due to softening of restaurant/hospitality consumer spending, weather, and slower-than-expected pace of international expansion. However, shares are down modestly after a big run, and BofA thinks it is likely because low end of Q4 revenues and adjusted EBITDA guide were slightly up-ticked, volume backlog of $33B was up 32% quarter-over-quarter, annualization of Q4 adjusted EBITDA is already in-line with 2025 consensus, and factor-based rotation favoring SMID cap names today.